Stallion Uranium completes extensive geophysical survey on ATHA Energy joint venture property
Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) released preliminary results from the largest-ever airborne geophysical survey in the southwestern section of the Athabasca Basin this week.
The junior explorer says that it covered the entire area of its joint venture project property with ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF), spanning 2,200 square kilometres.
Ontario’s Expert Geophysics completed the work using advanced technology capable of detecting desirable geological traits 1,000 metres below the surface. Namely, Mobile MagnetoTellurics (MobileMT).
Device used to complete airborne MobileMT geophysical surveys. Photo credit: Expert Geophysics
Through the survey, Stallion discovered more than 560 kilometres of conductive trends along with “bends and splays” known to be associated with uranium mineralization. The company believes these discoveries have opened up a new frontier of exploration.
Stallion’s Vice President of Exploration, Darren Slugoski, says the results have significantly exceeded the company’s expectations.
“We are incredibly excited to see the quality and number of targets identified by the completion of the regional MobileMT survey,” Slugoski said. He says Stallion will prioritize advancing those targets toward drilling.
The company’s CEO Drew Zimmerman says the new results have significantly increased Stallion’s chances of finding the next major uranium discovery.
“Not only have we extended known prolific conductive corridors, but we have also been able to uncover completely new zones,” Zimmerman said.
Map depicting survey results: Stallion Uranium
Read more: ATHA Energy adds seasoned exploration and corporate affairs managers to its team
Read more: ATHA Energy appoints highly-experienced technical advisor into its leadership roster
Stallion sells eastern assets to focus on southwestern Athabasca Basin
The company just handed over a series of property assets to Glorious Creation Limited (CSE: GCIT.X) in exchange for 2.5 million shares, C$300,000 in cash and a 3 per cent net smelter royalty. Stallion will now be focusing on its joint venture project with ATHA and a series of other properties in the southwest.
They include the Sandy Lake, Borderline and Coffer properties. Stallion obtained an exploration permit for the Coffer project in early December and completed an electromagnetic survey there later that month.
The company expanded its land package in the southwestern Athabasca Basin by more than 13,000 hectares in January.
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